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This endpoint closes an active loan after all repayment obligations have been fulfilled. It finalizes the loan lifecycle, releases any encumbered collateral, and updates the loan status to “closed” on-chain for transparency and recordkeeping. What it does:
  • Confirms completion of the repayment schedule
  • Releases any associated collateral held during the loan term
  • Marks the loan as closed in the system and on-chain
When to use it:
  • After the borrower has made the final repayment
  • Once the final payment is validated and reconciled
  • To formally complete the loan agreement and release collateral

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Request Body

The request body must include the loan identifier and the reference ID of the final repayment: 
{
  "loanId": "0x5a0c0663a48e3abf16c7f0ee632b57da833e44e02a290fc0920ea2858da31f73",
  "refId": "REF123"
}
  • loanId: The unique identifier of the loan to be closed.
  • refId: The reference ID associated with the final repayment transaction.

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Response

  • Returns a confirmation of success along with the blockchain transaction hash:
{
  "transactionHash": "0x5a0c0663a48e3abf16c7f0ee632b57da833e44e02a290fc0920ea2858da31f73"
}